Bulgaria's Trace Group Hold Turns to H1 Net Profit, Shares Keep Sinking
Bulgarian construction company Trace Group Hold [BUL:T57] said on Thursday that it turned to a consolidated net profit of 1.6 million levs ($957,400/818,100 euro) in the first half of the year from a net loss of 3.7 million levs in the same period of last year, following a rise in revenue. Trace Group Hold's consolidated revenue grew to 147.6 million levs in the first six months of the year from 94.5 million levs in the corresponding period of 2017, as the company and its units won several tenders in Bulgaria and Serbia, data from the company's interim financial statement shows. The group won contracts worth a total of 75.3 million levs in public procurement procedures during the first half of 2018.In Serbia, Trace PZP Vranje won a three-year contract for road maintenance worth 26.7 million levs, while Trace PZP Nis won two three-year road maintenance contracts worth 19.7 million levs and 15.9 million levs, respectively.